Veterans and Affordable Housing Bond Act of 2018 (SB 3)

$1.5 billion to Multifamily Housing Programs

Assist in new construction, rehabilitation, and preservation of permanent and transitional rental housing low-income residents through loans to local governments and non-profit developers.

$1 billion to the CalVet Home Loan Program

Provides funding for loans to veterans to purchase homes at or below market rate with low to no down payment requirements.  Program is fully self-supporting and does not impose any cost to the General Fund.

$300 million to Infill Infrastructure grants

Funding will go toward the construction and rehabilitation of infrastructure that supports higher density, affordable and mixed income housing in infill areas, such as water and sewer extensions.

$300 million for Farmworker Housing Grant Program

Finances new construction and rehabilitation of housing units for agricultural worker, with a  priority for lower-income households.

$300 million to Local Housing Trust Matching Grant Program

Provides grants to local governments and non-profits that raise money for affordable housing.

$300 million to CalHome

Provides grants to local public agencies and non-profit developers to assist individual households through deferred-payment loans.

$150 million to Transit-Oriented Development Implementation Program

Provides low-interest loans for rental housing developments with affordable units and mortgage assistance for homeownership developments.  Grants will also be provided to cities, counties, and transit agencies for necessary infrastructure for higher density near transit stations.

$1.5 billion to Multifamily Housing Programs

Assist in new construction, rehabilitation, and preservation of permanent and transitional rental housing low-income residents through loans to local governments and non-profit developers.

$1 billion to the CalVet Home Loan Program

Provides funding for loans to veterans to purchase homes at or below market rate with low to no down payment requirements.  Program is fully self-supporting and does not impose any cost to the General Fund.

$300 million to Infill Infrastructure grants

Funding will go toward the construction and rehabilitation of infrastructure that supports higher density, affordable and mixed income housing in infill areas, such as water and sewer extensions.

$300 million for Farmworker Housing Grant Program

Finances new construction and rehabilitation of housing units for agricultural worker, with a  priority for lower-income households.

$300 million to Local Housing Trust Matching Grant Program

Provides grants to local governments and non-profits that raise money for affordable housing.

$300 million to CalHome

Provides grants to local public agencies and non-profit developers to assist individual households through deferred-payment loans.

$150 million to Transit-Oriented Development Implementation Program

Provides low-interest loans for rental housing developments with affordable units and mortgage assistance for homeownership developments.  Grants will also be provided to cities, counties, and transit agencies for necessary infrastructure for higher density near transit stations.